Guitarist Brian May admits the group's late frontman Freddie Mercury would have loved to be part of the show.
"With an injection of new blood in the shape of the incredible Adam Lambert, Queen will be ready to tear it up on this legendary stage in 2016. Freddie would have loved it. Can't wait."
"When I think of The Isle of Wight Festival, I think of Hendrix, Dylan and The Who," drummer Roger Taylor adds. "What immortal company to be in. Queen are thrilled to be there and can promise a special night."
And Lambert can't wait either - the former American Idol star admits he can't wait to "share the stage once again with the Queen family".
"I adore making music with Roger and Brian, and am thrilled to help continue their legacy into 2016," the singer adds. "It is true I have large shoes to fill, so I'm urgently planning on searching for a new pair of boots to wear for the set."
The 2016 Isle of Wight Festival will take place at Seaclose Park in Newport from 9 to 12 June next year (16).